Stockbrokers seek capital market boost to achieve $1trn economy goal

Business a.m.

L-R:  Josiah Akerewusi, registrar and chief executive, Chartered Institute of Stockbrokers (CIS); Fiona Ahimie, 1st vice president;Saheed Bashir,  chairman, Annual Conference Committee;  Simisola Ojumu, vice chairman, Annual Conference Committee; and Akeem Oyewale, 2nd  vice president, CIS; during press briefing on the upcoming 28th Annual Stockbrokers’ Conference held in Lagos recently

Concerned with the challenging economic conditions in Nigeria, the Chartered Institute of Stockbrokers (CIS) is aiming to harness the strong financial expertise of its members to devise strategies for achieving the federal government’s ambitious $1.0 Trillion economic target.

The institute is poised to leverage its upcoming 28th annual stockbrokers conference as a platform to demonstrate innovative solutions that will catalyse capital market expansion and drive economic growth and development in Nigeria.

The two-day Conference, themed : “Capital Market as a Catalyst for the $1.0 Trillion Economy”, is slated to be held at the International Conference Centre, Ibadan, on November 7th and 8th, 2024. It aims to explore the critical role of the capital market in driving Nigeria’s economic growth and achieving a trillion-dollar economy.

The event will bring together policymakers, industry leaders, and finance experts to share insights and proffer solutions to the challenges facing the

Nigerian economy.

A statement issued by Josiah Akerewusi,the Institute’s registrar and chief executive, stated that the conference aims to provide a platform for participants to analyse the current state of the Nigerian economy, identify areas for improvement, and brainstorm innovative strategies to boost the capital market’s contribution to economic growth.

The conference will also promote collaboration among stakeholders to drive policy reforms and regulatory enhancements, fostering an environment that supports the development of a robust and resilient capital market in Nigeria.

“As we all know, the Federal Government under the leadership of President Bola Ahmed Tinubu has articulated the vision of attaining

a $1 trillion economy during his tenure and we firmly believe that Nigerian Capital being a key driver of the economy is well positioned to drive the actualisation of the vision. We are convinced that the Nigerian Capital Market can generate up to half of the envisaged $1 trillion.

“The choice of Ibadan for this year’s Conference is intentional. Ibadan is an ancient city with lots of attractions that will create great memories for every participant.  It is an avenue for stockbrokers  to take time out of the hustling and bustling of Lagos and be in a relaxed atmosphere to network and connect with each other. Ibadan has a beautiful scenery and some of the listed  companies have their factories in Ibadan,” said  Fiona Ahimie, the 1st vice president of the institute.

Corroborating her, Simisola Ojumu, the vice chairman, Annual Conference Committee,  highlighted the uniqueness of the 2024 Conference, saying: “The panel sessions have been carefully structured to address critical issues about making the Nigerian business environment attractive

for doing business to attract more domestic and foreign investment. The sessions will address policy and regulatory framework for

optimal capital market performance.

“There will also be deliberations on how digital innovation can be harnessed for  overall growth and development of the capital market ecosystem.”

Topics designed to engage the Panelists include : “X-Raying the Critical Sectors of the Nigerian Economy: Recommendations for

Improved Performance”; Strengthening  the Capital Market’s Roles for Economic Growth through Strategic Enhancements”; Enhancing Policy and Regulatory Framework for Capital Market Performance”; and “Harnessing Digital Innovation for Capital Market Expansion and Economic Growth.”